Matsiloje Cement in six-year loss making streak

Matsiloje Cement Co.PIC MORERI SDEJAKGOMO
Matsiloje Cement Co.PIC MORERI SDEJAKGOMO

FRANCISTOWN: A senior official at the cement company, Matsiloje Portland Cement (MPC) has disclosed that the company has been making serious losses since its inception six years ago.

MPC is a 100% subsidiary of Nortex Textiles.

The company’s managing director, Mukesh Josh told Businessweek in an interview that the company lost P13 million in its six years of operation. 

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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